How Fintech Companies Have Come to the Rescue of Small Business

The New York Times is reporting that fintech companies have helped out many small businesses that were struggling during the crisis; it provides the example of a small business that could not get a PPP loan from Capital One when they first became available; he connected with Fundera who helped him get a loan from Cross River Bank, both leading fintech companies; others used fintech companies like payroll processor Gusto to help organize the data on their application before applying with their local credit union; others like Rho Business Banking helped their customers by providing them with access to loans at any institution that had money available; what happened here is that “some of these fintechs held their own or bested more established financial service firms that struggled to roll out promised programs.” NY Times

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